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PBS
Nov 28, 2012 1:00am PST
wall street today. investors were more concerned about the debt problems in europe and the fiscal cliff crisis here in the u.s. stocks fell late today after senate majority leader harry reid said lawmakers are making little progress in resolving the stand-off over tax increases and spending cuts. the dow fell 89 points, the nasdaq lost nine, the s&p 500 down seven. >> tom: as susie mentioned, talks to resolve the fiscal cliff are moving slowly. one reason is that there is deep disagreement over whether entitlement programs like social security and medicare should be on the table right now or not, and the disagreement is sharpest over social security. darren gersh takes a look at why. >> reporter: the number-two man in the senate democratic leadership argues any fix for social security's finances should come after the immediate challenge is out of the way. >> i think we should take social security off the table for the current fiscal cliff and deficit discussion, but be very honest about what we're going to achieve in the near term. >> reporter: republicans pushed back, arguing social security is part of the deficit problem because it is no longer taking in enough in
CNBC
Nov 28, 2012 3:00pm EST
entitlements, social security, and otherwise as a separate issue from the fiscal cliff. house leader eric cantor speaking this morning in washington about that very issue. i want you to listen and we'll talk about it on the other side. >> we have not seen any good faith effort on the part of this administration to talk about the real problem that we're trying to fix. i'm told that mr. bowles, as some of us will meet with him later today, had said earlier this morning there's been no serious discussion by the white house on entitlements, on medicare and medicaid. >> is that where the conversation starts and stops to really make a dent in the deficit over the long term and the issues that we have? >> to make a dent in the deficit, i don't believe it starts and stops there, but i think there is no discussion about reducing expenses, government expenditure, without addressing social security and medicare. absolutely entitlements are on the table. we've made promises of benefits that we just cannot keep as a country over the long term. >> doesn't seem as though we're willing to deal with that
FOX News
Nov 27, 2012 7:00pm PST
growing threat of the fiscal cliff. today on the senate floor, minority leader mitch mcconnell abusing president obama -- accusing president obama of being back on the campaign trail instead of working with lawmakers. have you seen anything to indicate that we are close to a resolution, or even moving in that direction? >> i haven't. it's hard to come to a resolution when one of the parties to that isn't around. the president, as you mentioned, is out on the campaign trail again. >> greta: you're referring to his trip this friday to pennsylvania. >> right. you've got to have presidential leadership to do big things. that's what we need right now. obviously republicans are here, ready to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost a million small businesses who employee 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference right after the election that his number one priority is jobs and the economy. we agree with th
MSNBC
Nov 28, 2012 2:00am PST
putting in to on jep arrested day compromise on the fiscal cliff. >> plus house republicans unveil the names of their committee leaders. why some critics say they're not heeding the lessons of the 2012 election. >> but first
FOX News
Nov 27, 2012 4:00pm PST
entitlements, but not part of the fiscal cliff talks. here is the senate majority leader's view. >> at the meeting we had that i mentioned with president and the four leaders, president obama said that social security is not part of what is what we're going to do in this. i agree with him. and there are things that i personally believe there are things that we can do with entitlements that don't hurt beneficiaries. >> but if you have each side starting to take things off the table, it makes you wonder if at some point if gets harder to make a deal. shep. >> shepard: mike emmanuel on capitol hill. the white house and president obama will be making their case to regular americans this week. republican leaders say he should be negotiating, not campaigning. he's not the only politician planning a fiscal cliff road trip. we'll go to the white house and the fox report coming up in a bit. first, hours ago, more than 200,000 people crowded into the central square in cairo to call for an end to the new egyptian leader's regime. it was an enormous show of strength from the opposition that
CNBC
Nov 28, 2012 1:00pm EST
fiscal cliff. jane wells is live in the house minority leaders' home state. >> reporter: sue, coming up we're going to go to nancy pelosi's district to ask her constituents what they think of her, what they want from her, and if they're actually worried the fiscal cliff will happen. pg with the emphasis on "lunch" when we come back. >>> in october 2004, our national debt was $7.4 trillion. today that number has more than doubled to over $16 trillion. ♪ ♪ ♪ [ male announcer ] 'tis the season to discover the kid in all of us. the memories that last, start with the gifts that last. ♪ enjoy free shipping and great values on your holiday shopping from l.l.bean. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. [ male announcer ] break from the holiday stress. i've been a superintendent for 30 some years at many different park service units
MSNBC
Nov 27, 2012 8:00pm PST
the pursuit of perfection. >>> coming up, labor leaders meet to discuss the fiscal cliff. >>> then senators john mccain and lindsey graham say they have even more questions after u.n. ambassador susan rice tries to clear the air on benghazi. >>> and black friday shoppers bust another republican myth about this obama economy. david johnson will set the record straight. share your thoughts on facebook and twitter. we're right back. ♪ it's so important to make someone happy ♪ when you give a child a toy, it has to work. ♪ make just one someone happy and when it's a toys for tots child, well, what could be more important? so this year, every hasbro toy donated to toys for tots will be powered by duracell. happy holidays. duracell with duralock. trusted everywhere. >>> welcome back to "the ed show." president obama can and should rely on labor to bolster his position in the fiscal cliff negotiations. labor is a major ally in protecting the middle class. today senior white house officials met privately with representatives of labor and other progressive groups. and attendees of the
MSNBC
Nov 27, 2012 5:00pm PST
fiscal cliff negotiations and not later. also today, aflcio local leaders from 33 states are putting pressure on congressional lawmakers to let the bush tax cuts expire for the wealthy and keep social security off the table. let's turn to james hoffa, general president of international brotherhood of teamste teamsters. always a pleasure. good to have you with us. sometimes when you get politicians and supporters and voters, it's like hurting cats, so to speak. everybody goes in their own direction and they all want their own thing. how do you feel right now about the unity of where this is going for the democrats? what's your understanding of how the white house meeting went today? >> right now, people are saying we have to stand tall. we had an election. these were the issues in the election. what organized labor is doing is urging this administration to stand tall. that was the message that was delivered today. we won and these were the issues. they wanted to send you a voucher for your medicare. they want to reform basically everything and take it away. we won the election. now we
CSPAN
Nov 28, 2012 6:00am EST
fiscal cliff, i really think that the majority leader has decided to needlessly kick over a hornet's nest. i like the house. i think it's open that the house function like the house. but it's important that the senate do the job the way the senate is supposed to do. into the house and you shouldn't break the rules to change the rules. i don't think anybody has any doubt if they try to change the rules of the ongoing continuous body that the senate is, that the parliamentarian will say that the rules say it takes 2/3 to change the rules and the majority would say, we don't says, we are going to chain the rules any way. in an environment anything that passes the senate without republican votes is unlikely to pass the house. years to get to every political is to blame instead of having rules. the three times we followed the rules this year, we passed bills. the highway bill, the postal reform bill and the ag bill, all passed. amendments anyone wants to offer and do what the senate does every single time when we did that, we passed a piece of legislation in a bipartisan way. anywhere in
CSPAN
Nov 28, 2012 1:00am EST
rice. senate majority whip david gergen on negotiations to work an appeal on the so-called fiscal cliff. after that, more from senate leaders who spoke with reporters after party lunches today at the capitol. later a discussion on how wall street investors are preparing for the possible tax hikes and budget cuts. now, republican senators on their meeting with you in ambassador susan rice on the attacks in libya that killed four americans. >> a very candid discussion with the director of the cia. we are significantly troubled by many the answers we got. the evidence was overwhelming leading up to the attack on our consulates. whether ambassador rice was informed sufficiently is a correct depiction of the events that took place. but the intervention was incorrect when she said it was a spontaneous demonstration. it was not, and there was compelling evidence that the time that that was not the case, including statements by libyans as well as other americans. mortars and rocket-propelled grenades were not spontaneous demonstrations. >> i think it does not do justice to the reality at the time and in hindsight, -- in real time [indi
CNN
Nov 28, 2012 4:00am PST
heard he said the democrats should take entitlements off the table until the fiscal cliff mess is solved. majority leader senator dick durbin is going to join us up next to explain why. and you know those glitch-filled apple maps? well guess what? somebody's head is rolling over that. we'll explain what happened. let's say you want to get ahead in your career. how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to work. thor's couture gets the most rewards of any small business credit card. your boa! [ garth ] thor's small business earns double miles on every purchase, every day! ahh, the new fabrics, put it on my spark card. [ garth ] why settle for less? the spiked heels are working. wait! [ garth ] great businesses deserve the most rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with double miles or 2
CNBC
Nov 28, 2012 4:00am EST
, it was all about, what else, the fiscal cliff. those comments from the senate majority leader harry reid overnight really sparked some jitters in this session today, so we have red across the board. the shanghai composite, it is well and truly below that 2011 level, shedding another .9 of a percent. the hang seng was feeling some of that pressure from chinese stocks and shedding .6 of a percent. it was the mainland banks that were the culprit. they didn't fare as badly if the mainland. some capital requirement rules are going to be implemented that are raising concerns about loans and the ability of these major banks to give out loans the remainder of year. we have the kospi in south korea down .7 of 1%. we had a north korean launch site showing increased activity. that just increased the jitters in this market. the japanese markets, they have really been on a rally, on a roll, on a tear over the last few weeks. the nikkei 225 has gained more than 9% just the last two weeks alone. the yen had something to do with this. it did strengthen a little bit against the dollar, and it contin
FOX Business
Nov 28, 2012 1:00pm EST
fiscal cliff. more now as we just said, he will be meeting with those congressional leaders tomorrow on capitol hill. we'll wait to see what comes of that. hopefully some more, at least promising words. everyone is confident of course that a deal can be reached before christmas. at least that is the belief of some. peter barnes at the white house where the president will again meet with business leaders this afternoon, probably getting an earful from them, peter. >> that's right, ashley but earlier today the president had a pr event, he had a major pr, public relations push hhre to try to get the republicans to at least, for now, extend the middle class tax cuts, that portion of the bush tax cuts that would help the middle class. surrounded himself at that event with 85 middle class taxpayers, continue to put pressure on republicans to extend the bush tax cuts for them but let them expire for the wealthier taxpayers. take a listen. >> if we can get a few house republicans to agree as well, i'll sign this bill as soon as congress sends it my way. i got to repeat. i've got a pen. i'm read
FOX News
Nov 27, 2012 10:00pm PST
, to while you are campaigning the last 3 months. have you known about this fiscal cliff for a year and-a-half. now the president's going out, friday, to do, as you say, campaigning. the press secretary says there will be a meeting between the leaders at the appropriate time. that seems like it's right now. >> it does. to me, what you are seeing with the president and the democrats, is sort of an attempt to run out the clock. i think they think they gain leverage if the pressure builds. you are hearing a lot of prominent democrats saying, we should go over the fiscal cliff and let the taxes go up, which would be a huge mistake, in terms of the economy. we have lots of analysts and economists who have said fthat ha you will reduce economic growth. you will lose jobs and you will lower take-home pay for americans. it is a big mistake. the president knew that in 2010, when the economy was weak. it is weaker now than it was. >> let me tell you, the debt ceiling of $16.3 trillion. we'll hit that at the end of december. the treasury can do fainationling until we are out of money -- or credit, in when the americans are expected to pay the tax refunds and there will be no money to pay the quote, tax refunds. >> the democrats want to fold the
FOX News
Nov 28, 2012 12:00pm PST
, maybe a lawmaker will win and donate it to the fiscal cliff, and she will be here to tell us about it. palestinian leaders headed to the united nations for the landmark vote. should palestinians get statehood? how would that work? what could it mean for peace in the middle east? and the biggest names in all of baseball on the ballot for the hall of fame including three players suspected of having used performance enhancing drugs. what to do in the time of sports, what to do with steroids? that is all ahead unless breaking news changes everything. >> first from fox at 3:00 in new york city the fight over the so-called fiscal cliff has gone from negotiations to playing out in public. today the president laid out the plan to step the looming tax hike in a public push that seemed like a campaign event. president obama meeting with a group of what he described as middle class americans, and repeated the argument for raising taxes on families earning more than $250,000, a plan which republicans so far reject. the president said the re-election shows a majority of americans support his approach. >> not just democrats b
FOX Business
Nov 28, 2012 6:00pm EST
of day hearing their concerns ahead of the looming fiscal cliff. the president's criticized for only sitting down with big business, ceo, and union leaders. joining me now are three owners who atented the meeting with the president, tillegge construction and andy, president of a. harold and associates. welcome, all. i want you all to answer this question. what does your company do? keith, starting with you. >> hi, gerri, thanks for having me. a general contracting company, mainly in defense, and we are located in baton rouge, louisiana, reasonable offices in dallas, texas, and general contractor. -erri: all right, julia? >> hi, thank you so much, gerri. we help people become healthier, happier, and smarter. gerri: i need a lot of that, yeah. >> it helps you exercise better and sleep better and get better nutrition. gerri: oh, my lord. >> lose pounds. gerri: sounds magical. >> we hope it is. gerri: andy, you're a defense contractor; correct? >> yes, thank you very much for having me tonight. gerri: you're welcome. glad to have you here. andy, how did the president find you and decide you were the right small business person to have on? >> well, we
CNN
Nov 28, 2012 6:00am PST
eventually you only have a few weeks left here until you go over a fiscal cliff. all the leaders including the president are going to have to end up being in the room. you know, republicans are going to go out on the campaign trail, too, with small business leaders to talk to small business owners to talk about the impact on them if tax rates do go up. i have to say, you know, the democrats have not had a balanced conversation so far. they've been hammering this -- the upper tax bracket but they have not been talking about medicare or entitlement reform in general. that's why republicans are trying to balance it out. >> well, do you agree, l.z.? i have heard some democrats say, hey. social security is off the table. we're just not going to talk about that. i've heard civil rights leader come out and say entitlements are very important to the black community. the president owes the black community a lot, you know, with his re-election and all so don't touch those. so the president is under a lot of pressure isn't he? >> well, i don't think so. here's why. i think the way that we've been hav
CNN
Nov 27, 2012 11:00pm PST
fiscal cliff. and with impending doom as a lot of people describe it, just 35 days away, key lawmakers say the president hasn't worked hard enough with them to broker a deal. >> rather than sitting down with lawmakers of both parties and working out an agreement, he's back on the campaign trail presumably with the same old talking points that we're all quite familiar with. >> well, now, as far as top democrats are concerned, things haven't been going so well since that november 16th kumbaya meeting at the white house. >> we had a meeting, it went very well. the problem was that was before thanksgiving after the election. and since that time, there's been little progress with the republicans, which is a disappointment to me. >> well, the market didn't exactly like what they heard there either. the dow lost nearly 90 points today. much of it in reaction to harry reid's dismal statement. i got an e-mail with it all in caps, the market is coming in on these headlines from harry reid. this matters, every word they say matters and white house press secretary jay carney was on the defense tod
FOX News
Nov 28, 2012 8:00am PST
the coming fiscal cliff. our chief white house correspondent ed henry is live at the white house. so what are we expecting from the president today, ed? >> reporter: jon he is going to meet with business leaders as you say later this hour. he will come out and talk about where he believes these fiscal cliff talks are. you remember on friday he will be in pennsylvania for essentially a campaign-style event to try and pressure republicans to move forward in these talks. the white house also has this new twitter campaign they unveiled today, the hashtag, my 2 k, as in $2000 believes middle class families will get if the president's push to extend bush-era tax cuts for the middle class to continue. republicans have been saying that is all about campaigning. jay carney, the white house spokesman says it is about engaging the public. take a listen. >> the president spoke with speaker of the house boehner and senate majority leader reid over the weekend. our team is continuing discussions with their congressional counterparts on this matter, and it is entirely appropriate i would say both for the president and for leaders in congress to have this discussion not just among themselves but with the americ
NBC
Nov 28, 2012 6:00am PST
and other leaders today to discuss the looming fiscal cliff. they are still trying to hammer out some kind of compromise. to avoid tax increases that would kick in starting january 1. >>> yeah, meyers has been quiet since taking the reins at yahoo! back in july. >> she has been very busy. she just had a baby as well. we finally get to see meyers back in public. >> "fortune" magazine awarded her as one of the most powerful women in business. she did address her baby, saying being a new mom is actually easier than she expected and her job at yahoo! more fun than she expected. her secret, she says, is prioritizing. she referred to vince lombardi's three priority, god, family and the packers. >> you know, i think for me, it's god, family and yahoo!, in that order. >> why the packers? she grew up about two hours out of green bay. you can see more of the interview on the "today" show. coming up at 7:00. amazon says it can deliver a kindle by december 21st if you order today. kindle is the bet sell thing amazon has ever sold period. apple fired its manager in charge of maps. the epa sai
CNBC
Nov 28, 2012 9:00am EST
pot. how would you spend the money and how does the fiscal cliff factor in? we'll talk strategy with a former lottery winner. >> we begin with the fiscal cliff. this afternoon president obama is scheduled to meet with several business leaders including ceos of home depot, macy's, caterpillar and at&t but futures are falling with signs there are troubles with negotiations on capitol hill. a market credible deal to solve the cliff is key to economic growth. >> that annual growth idea, that prospect is real in my view if we actually did get a market credible $4 trillion plan. the markets would realize those guys can govern. the big question is can we get a market credible plan. what would it look like at this point? >> senator reid said we won't have one. everyone has to get used to that. warren buffett talking about going over. probably going to happen in january. i feel like we're going to go over. you can meet with all of the ceos you want to. doesn't really matter. 200,000 people in a room. doesn't really matter. norquist saying don't have a deal. have to raise taxes. democrats don't seem to favor lowered defense budget and favor higher taxes for the rich and so we're done. i think we're done. >> after durbin speoke yesterda, if yo
MSNBC
Nov 28, 2012 7:00am PST
fiscal cliff. it appears everybody is just posturing right now. the president is doing it, congressional leaders are doing it. the few who do seem to be willing to compromise are for now the outliers. in fact, more obstacles are being thrown up, and we've got all of ten legislative days left in which to fix this problem. >> well, gloomy and pessimistic are not the words that we want to hear or i think, clarence, that we expected to hear because it seems that before the election there was actually some uniform opinion this absolutely was going to get done by the end of the year. what changed? >> well, it's so easy to say in general we're going to work this out, talk, and have the nice photo-ops, but when it comes down to dollars and cents it's the same old argument that democrats want to see some kind of an extension of tax cults for those making less than $250,000 a year but not for the wealthy. and the republicans still want to see some proposed cut, some kind of numbers on how they're going to reduce entitlements, especially medicare spending. so we're not close to actually having those kind of ta
NBC
Nov 28, 2012 4:00am PST
the tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners yesterday to talk about the effect on their companies from taxes and other changes. and right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. >>> elsewhere on the hill, u.n. ambassador susan rice spent her day behind closed doors explaining statements she made back in september about those deadly attacks on the u.s. consulate in libya. her defense failed to convince her republican critics. nbc's tracie potts is on capitol hill with more on this. tracie, good morning to you. >> lynn, good morning. rice admitted that when she said the ambassador and three others who were killed were the result of spontaneous attacks, the information was partially wrong. as she has done before, in a statement after her meeting, she blamed it on bad intelligence information, talking points where references to al queda had been taken out according to sources and attacked changes to demonstrati
CNBC
Nov 28, 2012 6:00am EST
leader nancy pelosi's handling of the fiscal cliff? our jane wells speaks to constituents right after this. "squawk" is backse in two minut. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ >>> that's not it. that was the white house. >> oh. >> there it is. our good friend dan primack. >> you look good like that. >> i may have to grow out -- >> your hipster with the shirt and the tie. have you ever had longer hair at all? >> never really. >> never tried it? >> no, i don't think -- >> does that make you want to? >> not really. >> does that -- it should, you think? >> i thought that looked good. i thought you looked really cool. i do. >> you think the ladies -- >> yes, you look like an internet -- >> becky, does that change -- >> you think he looks good there? >> i
FOX Business
Nov 27, 2012 10:00pm EST
us, have a great night. ♪ lou: we're now 34 days from slipping over the so-called fiscal cliff, and i have no sign of progress to report to you on the talks between president obama and the republican leaders trying to reach a deal to avoid the crisis. the number two ma durbin of illinois tad saying nothing should be left off the table in search of budget cuts, and new sources of revenue, the assistant majority leader allowing the changes in the president's signature legislative achievement should be on the table. that's right, obamacare. >> put everything the table. repeat, put everything on the tail, not just taxes and revenue, but spending cuts and entitlement reform. the only perfect law i know was carried down a mountain by senar moses. lou: what should be positive words for republicans tempered by the fact that senator durbin has no standing as the president's representative in the negotiation, and harry reid is telling a far different stories. john boehner and his caucus, the target, again, of senator reid's blame game. the senate majority leader insistent that republicans are the only onee in the way of the deal. reid asked point blank what the first thing would be, and he offered this cu
FOX News
Nov 28, 2012 6:00am PST
says refuseotiate and are willing to go over the fiscal cliff. the lawmaker is likening them to thelma and louise driving their car over the cliff. senator mcconnell on the floor. here he is. >> this is the thelma and louise crowd who want to dream about higher taxes and big government without concern for america's economy or standing in the world. we can't keep running trillion dollar deficits every year and throw a tantrum if someone suggests the taxpayers shouldn't keep turning every program they can dream up. let's take a look at the so-called thelma and louise democrats so he know who he's talking about. to say they are willing to go over the fiscal cliff, we have those who say they are not willing to support any reforms to entitlements. dick durbin says he would be willing to talk about it but only after a deal is struck. >> you have a difference of opinion in all political parties. i don't know many republicans who agree with mitch mcconnell. this is the guy who said his number one political goal was to get obama out of office. i think it's all positioning. you have got a
CSPAN
Nov 27, 2012 8:00pm EST
agreement before the end of the year and avert this fiscal cliff. >> as progressives, we have no better champion then who is at the table and part of the gang. thank you for joining us. >> senate leaders spoke with reporters. harry reid said republicans are holding up a deal on the so- called fiscal cliff. republicans said they do not understand why democrats are looking to change the rules on filibusters. this is 20 minutes. >> we had a meeting with the four leaders up here at the white house, it went very well. the problem was that was before thanksgiving. and since that time, there has been little progress with the republicans, which is a disappointment to me. we only have a couple of weeks to get something done. we have to get away from the happy talk and start talking about specific things. and one month taxes are set to rise for all americans. we passed in the -- we passed in the senate a piece of legislation to protect people making less than $250,000 a year. we have rejected on a bipartisan basis the republicans' efforts to extend the tax cuts for everybody. those are the two majors we have dealt with on the senate floor. if we fail to reach an agreement, the average middle- class f
FOX News
Nov 28, 2012 2:00am PST
. they are headed to the white house today weighing in negotiations over the fiscal cliff as the president tries to pick up outside support for his proposed tax increases. doug luzader joins us live from washington with more. hi, doug. >> ainsley good morning. business leaders are pleading with the white house to come up with some kind of a deal to assert spending cuts as part of the big fiscal cliff. no deal in sight yet. take a look at what happened on capitol hill yesterday. naked protestors stormed the office of house speaker john boehner. they are protesting cuts in healthcare they say but shows how any kind of spend wiing cut are nearly impossible these days and they are warming for the president's call to raise tax revenue. many democrats are emboldened since the election refusing to talk about any specific cuts to federal spending. >>> president obama and democrats ran on a promise of bush tax rates. president obama didn't hide that last year of the campaign every place he went that's what he talked about. americans when they voted raised their voices and supported our pledge congress acted in accordance with the will of the people. >>> there's a debate of how to raise taxes. if government spending isn't paired back in some way republicans may not fine
FOX Business
Nov 28, 2012 3:00pm EST
right, with the president's remarks that he would like to see framework to avoid the fiscal cliff by christmas. sitting treasury debt up to capitol hill tomorrow to meet with congressional leaders, democrats and republicans. in the meantime the president keeping up the pressure on republicans from here to extend expiring tax cuts for middle-class taxpayers, but let them expire for wealthier taxpayers. take a listen. >> the place where we already have and three complete agreement right now is on middle-class taxes. as i have said before, we have two choices. if congress does nothing, every family in america will see the taxes automatically go up the beginning of next year. >> as we have been reporting all day, the president set to meet with a bunch of ceos of major corporate leaders here that will probably start wondering about 90 minutes to get underway around 4:45 here at the white house, 14 of them showing up including the ceo of yahoo, merck, coca-cola, at&t and lloyd glenn fine of goldman sachs will be here as well. liz: in the end big multinationals, to be fascinating to hear they feel positive. i want to know the business leaders think. thank you so much. as congress and the preside
CBS
Nov 28, 2012 6:00am PST
on the looming "fiscal cliff." and we have some discouraging comments from senate majority leader harry reid that led to that sell-off. market will continue in that vein until there is progress. billionaire investor warren buffett telling cnbc this morning says he may go past the december 31 deadline but it won't take too much longer and he is confident that a deal will be reached that will somewhat satisfy all sides. the market is falling again on the "fiscal cliff" word. let's look at the numbers. dow down 67 points. nasdaq down by 22. s&p losing 9. apple shares giving up 1.5% this morning. back to you guys. >> thank you. , kcbs moneywatch reporter jason brooks. >>> time for a look at what's coming up later on "cbs this morning." >> norah o'donnell joins us live from washington, d.c. in the capital with more on the big show. good morning. >> reporter: that's right. good morning, frank and michelle. we are here in washington where you'll hear from supreme court justice scalia. the postmaster general, and senator amy klobuchar who is part of a record number of women now in the united st
MSNBC
Nov 28, 2012 10:00am PST
are following several big stories. president obama takes his message on avoiding the fiscal cliff straight to the middle class. and even some business leaders. president says he's ready and willing to get the issue resolved in a bipartisan manner. speaking of bipartisanship, tomorrow the president will host mitt romney at the white house. their first face to face meeting since the election. when's the point? ambassador susan rice back on capitol hill for a second day trying to end the heated back and forth over her role in the investigation of the deadly attack on the consulate in benghazi. what republican senators are sayisa saying today. plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer up to 9 months. [ male announcer ] because enbrel®, etanercept, suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal, events including infections, tuberculosis, lymphoma, other canc
PBS
Nov 27, 2012 6:30pm PST
automatically -- if the country falls over the fiscal cliff. >> coming up, a new mozart interpretation that uses the latest in animation technology. >> but first, a roundup of stories making news now. the former israeli opposition leader has announced she will return to politics to lead a new party called the movement. the former foreign minister says the party will run in january elections. she described it as an alternative that will push for peace for the palestinians. >> in britain, at least two people have been killed in flooding that followed days of heavy rains. some 800 homes throughout the country are under water. prime minister david cameron pledged government help for the victims. the floods of the worst since 2007 when much of the nation was inundated, causing damages estimated in the millions of pounds. >> the president of belarus says he is proud to be the last dictator in europe. the comments came during a rare interview with the voyagers news agency -- the reuters news agency. westerners have pressured him to grant more freedom. >> all too often, when the word "islam" hits the headlines, and diaz's -- it is in the context of turmoil. >> representatives want to address that. i ago, young people were challen
SFGTV
Nov 27, 2012 6:00pm PST
challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration will reduce federal funding direct to san francisco by at least 26.5 million dollars a year, every single year. we would see over $5 million of cut to education, and almost $3 million of cuts from public housing. san francisco's allocation of medicare would be cut by $2 million. funding for the wic workforce program would lose almost $5 million. there would be a $1 million cut to housing services for people with hiv and aids and more than $1 million cut to the community development block grant program. ladies and gentlemen, this is our safe
CSPAN
Nov 28, 2012 7:00am EST
, on the fiscal cliff talks, i want to show you the headlines and what is happening in washington. we told you at the top, the negotiators are going public. president obama will go outside washington as well as republican leaders to press their case to the american people what they want in the stocks. but here's the baltimore sun this morning with the headline -- yesterday recovered to the speech that he gave. he says to put everything on the table. that's what the number two democrat said yesterday. if your interested in watching the whole thing, go to our video library. and the new york times reporting this this morning -- so that is the latest republican who has talked about breaking the grover norquist pledge on taxes. also, this morning, ceo's meeting with president obama yesterday, business leaders meeting with republicans as well. toth sides gathering ceo's talk about what they would like to see in the fiscal cliff tops. and in the washington post editorial -- also, "usa today" says -- you can look it up on president obama's budget page 465 that it's added to the deficit, they say, and it needs to be part of the deficit. the opposing view of durban says social security is not in a crisis. back to our quest
Current
Nov 28, 2012 3:00am PST
president obama. so now the negotiations are underway. about how to avoid going off the fiscal cliff. and what is the president doing? yesterday, he met with small business leaders. at the white house. the white house met with leaders of jack lew, the chief of staff. met with leaders of the chamber of commerce. today the president is meeting with some middle class americans who would be severely impacted if the middle class tax cuts were to expire. what this article really references is the president the white house announced yesterday is going on the road on friday, he's going back. he's going up to pennsylvania. going to visit a toy store -- last saturday, he also visit at small business, bookshop with his daughters. in arlington virginia. to make the point. the president is going out there, the white house now says he will be going around the country and building up popular support for his plan and putting pressure on congress to pass his plan and republicans are suddenly whining and crying. mitch mcconnell says yesterday, this is terrible for the president to be out there campaigning. >> rather than sitting down with lawmakers of both parties and work out an agr
PBS
Nov 28, 2012 3:00pm PST
how the fiscal cliff might affect you. still, to come on the "newshour": debating palestinian status at the u.n.; reading the fine print; tackling immigration reform and re-purposing digital data gathered during the campaign. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: wall street tracked the ups and downs of the fiscal cliff drama in washington today. at one point, the dow jones industrial average was off more than 100 points. but stocks made up the ground after the president's talk of a deal by christmas. the dow ended with a gain of nearly 107 points to close at 12,985. the nasdaq rose 24 points to close well over 2,991. a moderate republican senator susan collins of maine voiced new concerns today about u.n. ambassador susan rice. it stemmed from rice's initial account, on a sunday talk show, of the attack on the u.s. consulate in benghazi, libya. at the time, she said it began as an anti-american protest, but she now says she was working off faulty intelligence. rice met with collins for 90 minutes today, but afterward the senator remain
FOX Business
Nov 27, 2012 9:00pm EST
. remember this? the president predicting april process during the fiscal cliff talks and even wishing the house speaker a happy birthday. still nowhere near a solution to the democrats balanced approach. >> we remain hopeful and optimistic that we can achieve a deal. he will not sign an extension of bush-era tax cuts for the top 2 percent. >> we have already done more than a billion dollars worth of cuts. the richest of the rich will have to pay a little bit more. gerri: the voicef compromise. it will lead gop be forced to surrender their platform? let's ask our all-star political panel. former advisers to president george w. bush and daily beast columnist. to you first. the other republicans going to have to walk away from what they have long clung to which is the idea that we're not going to raise taxes, no way, no how. >> well, i think that president obama definitely has the upper hand in the situation. you have people coming out and saying we don't have on a this anti-tax pledge with grover norquist, a senior republicans, people like bill kristol you have 12 new house members comi
NBC
Nov 28, 2012 5:00am PST
fiscal cliff. it was really the tone, saying it's time to end the happy talk. that overshadowed positive reports on home prices and consumer confidence. this morning, we'll get data on new home sales and a report from the fed on regional economic conditions. the dow fell 89 points. the nasdaq losing nearly 9. if you're flying over the holidays, it's going to cost you more. airfares expected to be about 5% higher than last year. if you leave on the saturday before christmas and return on the following saturday, the saturday discounts won't apply. your fare could be 27% higher. it's not deterring many people who are willing to pay higher prices. if up got somebody flying in, really appreciate them for that. meantime, orbitz says the saturday and sunday before christmas are likely to be very busy. the day after as well. they think you will pay less if you fly on christmas day. if you're working on wednesday after christmas, i suspect christmas day will be a lot of busy travel for folks trying to get back after the long weekend. >>> nintendo was trumpeting it sold 400,000 of those n
PBS
Nov 27, 2012 5:30pm PST
mcconnell dismissed the president's new tactics. >> as we head into the fiscal cliff negotiations, my advice to the president would be... it seems like our friends on the other side are having some difficulty turning off the campaign. we need to sit down and work this matter out. i think we have a clear sense that there's an opportunity here at the end of the year to do something something important for the country. >> brown: at the same time there were some signs on both sides of the aisle that there might be a little give in previous positions. republican senator bob corker of tennessee outlined his proposal in the "washington post." he called for tax revenue increases, including a cap on itemized deductions coupled with curbs on social security and medicare benefits. corker joined several republican senators and house members who have suggested they might abandon a longstanding pledge not to raise taxes. but the author of that pledge, conservative lobbyist grover nor quist, played down any hint he's losing influence. he called it, quote, a complete media-created frenzy. on the left
CBS
Nov 27, 2012 5:30pm PST
staving off the fiscal cliff contain no medicare, medicaid, and social security benefit cuts. it puts them at odds with the president who has said everything should be on the table, including entitlements, senate republican leader mitch mcconnell. >> we want to save these programs and i understand the dilemma the president and the majority leader have. their hard left doesn't want to change anything ever. >> reporter: but the top senate democrat harry reid says republicans are the ones dragging their heels. there's been little progress with the republicans, which is a disappointment to me. they've talked some happy talk about doing revenues, but we only have a couple weeks to get something done. >> reporter: republicans point out that medicare and medicaid are the largest future drivers of the debt. they say they won't agree to increased revenue from taxes unless they get entitlement cuts as well. scott, it's safe to say there are going to be people on the right and left howling mad at no matter what this deal looks like. >> pelley: nancy, thank you very much. one idea they're looking at is scaling back one of the most popular tax breaks of all: the mortgage deduction. dean reynolds will tell us more about this later
CNN
Nov 28, 2012 11:00am PST
cliff. today, republicans and democrats met with business leaders to gauge and garner support for a budget deal that is likely to include tax hikes on the wealthy, and could include some sort of spending cuts, all with an aim to cutting the deficit. i couldn't tell you what happened at those meetings because i wasn't there. let's talk to somebody who was. tom wilson is the president and ceo of allstate insurance. tom, thank you for joining us. what happened in the meetings? >> well, it is good to be here, ali. i think what happened in the meetings is we get a sense that there needs to be more progress made quickly. because while everybody agrees something needs to be done, really the structure to get it done is still not formed up yet. >> did you get some sense that they are moving towards some kind of an agreement, both sides? >> i got the -- i'm concerned as to where we're at. let me tell you the good news. the good news is everybody sees this as an opportunity to show that america knows how to act and get the fiscal house in order. everybody wants to make a deal. everybody agrees
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